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U.S. job losses worst since 1974 as downturn deepens

WASHINGTON, Dec. 5, 2008 (Reuters) — U.S. employers axed payrolls by 533,000 jobs in November, the most in 34 years and far more than expected, government data on Friday showed, as the year-old recession hammered every corner of the U.S. economy. ...  > full story

Harvard plans $600 million bond issue: report

Dec. 5, 2008 (Reuters) — Harvard University is preparing a $600 million bond issue to partly repay existing debt and also to cancel certain interest rate swap agreements, the Wall Street Journal said. ...  > full story

Seabreeze's Kass favors U.S. stocks over Treasuries

NEW YORK, Dec. 4, 2008 (Reuters) — Hedge-fund manager Doug Kass, who successfully shorted U.S. equities this year including shares of Fannie Mae and Freddie Mac , is now buying U.S. stocks on the belief that they have hit bottom. ...  > full story

Sweden rate cut boosts global stocks

LONDON, Dec. 4, 2008 (Reuters) — European shares rallied on Thursday after a record Swedish interest rate cut boosted expectations for aggressive moves from the euro zone and UK, while government bonds and the yen surged on economy concerns. ...  > full story

New York mayor urges Obama to fix municipal bond market

NEW YORK, Dec. 3, 2008 (Reuters) — New York City Mayor Michael Bloomberg said he had advised President-elect Barack Obama's transition team to boost U.S. economic growth by fixing the credit markets so that cities and states can resume borrowing to build infrastructure projects. ...  > full story

"Bottom's been made" in stocks: Legg Mason's Miller

NEW YORK, Dec. 3, 2008 (Reuters) — Legg Mason's Bill Miller, a celebrated value investor but whose stock picking is far off the mark this year, said on Wednesday the "bottom has been made" in U.S. equities, and forecast opportunities for strong gains once markets rally. ...  > full story

Global stocks resume decline

LONDON, Dec. 3, 2008 (Reuters) — A tentative rebound in global stocks spluttered on Wednesday while euro zone government bond yields hit a three-year low as gloomy economic news highlighted the case for more aggressive interest rate cuts in Europe this week. ...  > full story

GE shares soar on plan to scale back finance arm

BOSTON, Dec. 2, 2008 (Reuters) — General Electric Co said on Tuesday it plans to scale back its hefty finance arm and repeated that it will pay its regular dividend next year, sending shares up 13.6 percent, their biggest one-day percentage gain in more than a quarter century. ...  > full story

Global stocks tumble

LONDON, Dec. 2, 2008 (Reuters) — World stocks fell on Tuesday, erasing more than half of last week's gains, while oil hit a 3-1/2 year low and the yen and government bonds surged as concerns intensified about a deep global recession. ...  > full story

Investors sue Countrywide to force loans purchase

NEW YORK, Dec. 1, 2008 (Reuters) — A group of bond investors sued Bank of America -owned Countrywide Financial on Monday demanding that Countrywide buy every mortgage loan for which it agrees to reduce payments under a predatory lending settlement deal. ...  > full story
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  • $1 trillion rescue: Not so far-fetched
    Dec. 5, 2008 (CNN Money) — President-elect Barack Obama hasn't put a dollar figure yet on his promise to create an economic recovery package that he says will generate or ...
  • Employers cut 533k jobs in Nov., most since 1974
    Dec. 5, 2008 (KCSJ-AM 590, Southern Colorado) — November's job losses were the steepest since December 1974, when 602,000 jobs were shed, and were much worse than forecast by analysts polled by ...
  • Survey: Layoffs may escalate
    Dec. 5, 2008 (KCSJ-AM 590, Southern Colorado) — A Business Roundtable survey found that 60 percent of 101 chief executive officers surveyed indicated they would make cuts in six months. . . New ...
  • US shed 533,00 jobs in Nov
    Dec. 5, 2008 (The Straits Times, Singapore) — US EMPLOYERS axed payrolls by a shocking 533,000 in November for the weakest performance in 34 years, government data on Friday showed, as the ...

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